How do I use untied to deal with other currency transactions?
Last updated 13 July 2020
untied supports accounts and transactions in over 100 currencies. These are automatically converted into pounds when you claim them at an appropriate exchange rate for that date.
You may also want to add a manual transaction. In these cases, convert the amounts into pounds and enter the pound amount into untied as a manual entry (press the plus button and add money in/money out). You may want to include the original currency amount in the description, and to add evidence so you have a note of where it all came from (you may need to click on advanced to get to this).
It's reasonable to use the exchange rates that you would experience. So if you withdraw dollars from an ATM and have a rate of 1.24, that is the rate to apply to your cash expenses during a US trip (rather than the formal exchange rate which may be significantly higher).
If you have a foreign currency account for lots of small level expenditure, eg that you use for business travel, then take a reasonable average exchange rate.
There are lots of websites that allow you to convert amounts on given dates. If you're in doubt, then HMRC produce their own set of exchange rates.